【$ESP Signal】Long! 1H strong breakout, funding squeeze in progress

$ESP The 1H timeframe has broken through previous highs strongly under massive momentum, with the price reaching a new intraday high of 0.11363. The 4H timeframe has formed three consecutive bullish candles, indicating a strong trend. Currently, the 1H RSI is in the overbought zone (81.64), but the negative funding rate (-0.0216%) combined with firm price action suggests a short squeeze is unfolding. The main force is clearly defending the price, and there is still short-term upward momentum.

🎯Direction: Long (Long)

🎯Entry/Order: 0.1095 - 0.1105 (Reason: In a strong zone, retest of 1H EMA20 (0.0889) support is far below, aggressive traders can enter near the current price )

🛑Stop Loss: 0.1030 (Reason: Break below the previous 1H candle's low and ATR (0.0088) below )

🚀Target 1: 0.1180 (Reason: Previous high resistance and psychological level )

🚀Target 2: 0.1250 (Reason: 1.618 Fibonacci extension based on recent gains )

🛡️Trade Management:

- Position size suggestion: Light (Reason: Daily gains have exceeded 50%, volatility is extremely high, risk is amplified )

- Execution strategy: After the price reaches 0.1180, take profit on 50% of the position, and move the stop loss of the remaining position up to the entry price of 0.1100. If the price strongly breaks through 0.1180 and stabilizes, hold the remaining position towards 0.1250.

Deep logic: Order book data shows that buy depth around 0.1099 is unusually thick (over 60,000 orders), forming a support wall. Open interest (OI) remained stable during the price surge, indicating it’s not just a short squeeze but also new long positions entering. The buy/sell ratio on the 1H timeframe has repeatedly exceeded 0.52, with buyers in control. The main risk now is the 1H RSI being severely overbought, so watch for a quick correction. However, in a short squeeze environment, overbought signals may remain dulled.

View real-time market 👇 $ESP

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